3.27 In CP12/23 the PRA proposed to delete the requirement to produce a RSR for all Solvency II firms (both the triennial report and annual summary of material changes) by not restating the RSR requirements into the PRA Rulebook once HMT revokes the relevant articles in onshored Commission Delegated Regulation (EU) 2015/35.
3.28 Nineteen respondents supported the removal of the RSR. In addition to feedback on implementation timing set out in this PS, one respondent commented that removal of RSR will leave a gap in reporting, and a further respondent sought clarifications on the requirement to submit an RSR.
3.29 The PRA considers that triennial reporting frequency of the RSR would not provide timely information. CP12/23 set out that the changes proposed to Solvency II reporting render the RSR less relevant to the supervision of firms, and the PRA considers that the policy material in this PS would preserve the collection of information that is important to the supervision of UK insurer
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